Civic Intelligence

Pinecrest Academy of Nevada

EIN 45-5065099 • 501(c)3 • Las Vegas, NV

Profile

Pinecrest academy of nevada is a college prep charter school where scholars perform at the highest level on all academic measures. The mission is to unite the community to prepare students for college and career.

6630 Surrey StLas Vegas, NV 89119

www.pinecrestnv.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

96th percentile

1.18x

Higher debt load relative to assets than 96% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Liabilities / Revenue

85th percentile

2.34x

Higher debt load relative to revenue than 85% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Net Margin

17th percentile

-7.3%

Higher net margin than 17% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Top Officer Pay

14th percentile

$222,643

Higher top officer pay than 14% of similar nonprofits.

Top officer pay equals 0.3% of source-year revenue.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Asset Growth

23rd percentile

-0.0%

Faster asset growth than 23% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Revenue Growth

78th percentile

26%

Faster revenue growth than 78% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Assets

Down

$175,879,535

Down $10,870 (-0.0%) from 2023

Liabilities

Up

$207,269,735

Up $6,474,159 (+3.2%) from 2023

Net Assets

Down

-$31,390,200

Down $6,485,029 (-26%) from 2023

Revenue

Up

$88,451,424

Up $18,012,179 (+26%) from 2023

Expenses

Up

$94,936,453

Up $17,354,999 (+22%) from 2023

Net Income

Up

-$6,485,029

Up $657,180 (+9.2%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$300M$200M$100M$0-$100MAssets 2017: $18,482,263Liabilities 2017: $19,083,187Net Assets 2017: -$600,9242017Assets 2018: $25,175,830Liabilities 2018: $26,525,493Net Assets 2018: -$1,349,6632018Assets 2019: $105,809,184Liabilities 2019: $113,792,953Net Assets 2019: -$7,983,7692019Assets 2020: $157,898,888Liabilities 2020: $167,137,942Net Assets 2020: -$9,239,0542020Assets 2021: $180,969,815Liabilities 2021: $194,923,284Net Assets 2021: -$13,953,4692021Assets 2022: $184,953,874Liabilities 2022: $198,171,571Net Assets 2022: -$13,217,6972022Assets 2023: $175,890,405Liabilities 2023: $200,795,576Net Assets 2023: -$24,905,1712023Assets 2024: $175,879,535Liabilities 2024: $207,269,735Net Assets 2024: -$31,390,2002024

Highlighted filing

2024

Assets$175,879,535
Liabilities$207,269,735
Net Assets-$31,390,200

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$100M$50M$0-$50MRevenue 2017: $29,305,075Expenses 2017: $28,912,184Net Income 2017: $392,8912017Revenue 2018: $33,862,243Expenses 2018: $34,610,981Net Income 2018: -$748,7382018Revenue 2019: $38,511,546Expenses 2019: $45,145,652Net Income 2019: -$6,634,1062019Revenue 2020: $51,289,957Expenses 2020: $52,545,242Net Income 2020: -$1,255,2852020Revenue 2021: $55,227,601Expenses 2021: $59,942,016Net Income 2021: -$4,714,4152021Revenue 2022: $66,128,274Expenses 2022: $65,392,502Net Income 2022: $735,7722022Revenue 2023: $70,439,245Expenses 2023: $77,581,454Net Income 2023: -$7,142,2092023Revenue 2024: $88,451,424Expenses 2024: $94,936,453Net Income 2024: -$6,485,0292024

Highlighted filing

2024

Revenue$88,451,424
Expenses$94,936,453
Net Income-$6,485,029

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Apr 22, 2025
Return Version
2023v6.0
Gross Receipts
$88,491,658
Mission and Program Overview

Mission

Pinecrest academy of nevada, where scholars perform at the highest level on all academic measures. The mission of pinecrest academy of nevada is to unite the community to prepare students for college and career.

Pinecrest academy of nevada is a college prep charter school that unites the community to prepare students for college and career.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$117,134,943$116,432,664▼ $702,279
Cash and Non-Interest-Bearing Accounts$20,027,180$20,883,909▲ $856,729
Savings and Temporary Cash Investments$5,919,375$6,195,626▲ $276,251
Accounts Receivable$1,571,297$1,028,113▼ $543,184
Other Notes and Loans Receivable, Net$542,596$140,067▼ $402,529
Prepaid Expenses and Deferred Charges$71,838$25,926▼ $45,912
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities$0--
Investments Program Related$0--
Loans From Officers Directors-$0-
Total Assets$175,890,405$175,879,535▼ $10,870
Other Assets Total$30,623,176$31,173,230▲ $550,054
Liabilities
Mortgage Notes Payable Secured by Investment Property$94,530,897$93,574,379▼ $956,518
Other Liabilities$57,874,996$66,821,606▲ $8,946,610
Tax Exempt Bond Liabilities$42,430,030$41,719,089▼ $710,941
Accounts Payable and Accrued Expenses$5,959,653$5,154,661▼ $804,992
Total Liabilities$200,795,576$207,269,735▲ $6,474,159
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-6,699,792$-13,081,021▼ $6,381,229
Net Assets With Donor Restrictions$-18,205,379$-18,309,179▼ $103,800
Total Net Assets Fund Balance$-24,905,171$-31,390,200▼ $6,485,029
Total Liabilities and Net Assets / Fund Balance$175,890,405$175,879,535▼ $10,870

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$88,800,454$11,675,711$100,476,165
Land$21,265,054-$21,265,054
Equipment$2,066,116$5,249,431$7,315,547
Leasehold Improvements$3,905,651$501,593$4,407,244
Other Land Buildings$395,389-$395,389
Other Assets Org$58,233--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Lisa SatoryPrincipal-pinecrest SloanFT$160,603$62,040$222,643
MICHAEL O'DOWDPrincipal-pinecrest InspiradaFT$215,524$2,733$218,257
Bryan RuddenPrincipal-pinecrest CadenceFT$143,662$54,319$197,981
Jon HaskelPrincipal-pinecrest St. RoseFT$135,164$59,445$194,609
Wendy ShireyPrincipal-pinecrest HorizonFT$136,151$50,330$186,481

Board Members and Trustees

NameTitle
Coby SherlockBoard Chair
Mami WatkinsBoard Vice Chair
Danielle McdowellBoard Member
Patricia CharltonBoard Member
Tyre GrayBoard Member
Jennifer WillamsonBoard Secretary
Chong NamBoard Treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Academica NevadaManagement Services6630 SURREY ST, Las Vegas, NV 89119$3,860,490
Revenue and Support

Revenue Composition

Contributions and Grants
$83,614,263
Program Service Revenue
$4,442,604
Investment Income
$263,382
Other Revenue
$131,175
All Other Contributions
$1,006,271
Change in Net Assets
$-6,485,029

Audited Revenue Reconciliation

Revenue per Audited Statements
$88,491,658
Revenue Not Reported on Financial Statements
$-40,234
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$-40,234
Total Revenue per Audited Statements
$88,491,658
Total Revenue per Form 990
$88,451,424
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$52,943,027
Other Expenses$41,439,881
Grants and Similar Amounts Paid$553,545
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$34,841,783$4,399,914-$39,241,697
Pension Plan Contributions$8,045,527$1,217,182-$9,262,709
Interest-$6,949,361-$6,949,361
Fees for Services Other$6,025,100$0$0$6,025,100
Depreciation Depletion-$4,092,776-$4,092,776
Fees for Services Management-$3,756,279-$3,756,279
Other Employee Benefits$3,147,782$280,437-$3,428,219
Travel-$1,787,385-$1,787,385
All Other Expenses$1,708,169$0$0$1,708,169
Information Technology$1,195,888--$1,195,888
Other Expenses$880,509--$880,509
Payroll Taxes$508,300$61,202-$569,502
Grants to Domestic Orgs$553,545--$553,545
Current Officers, Directors, Trustees, and Key Employees$390,891$50,009$0$440,900
Insurance$342,831--$342,831
Office Expenses$255,218--$255,218
Fees for Services Accounting-$242,082-$242,082
Advertising-$59,644-$59,644
Payment Travel Entrtnmnt Publicly Ofcl$8,950--$8,950
Fees for Services Legal-$8,339-$8,339
Total Functional Expenses$72,031,843$22,904,610$0$94,936,453

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$94,976,687
Expenses per Audited Statements$94,936,453
Total Expenses per Form 990$94,936,453
Expenses Not Reported on Form 990$40,234
Expenses Not Reported on Financial Statements$0
Other Expense Adjustments$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Pinecrest Academy of Nevada FoundationLas Vegas, NV501(c)(3)Operations Support$553,545
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$148,942
Fundraising Direct Expenses$40,234
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Pledge Drive$78,829$78,829$12,750$66,079
Fun Run$19,114$19,114-$19,114
Total Events$148,942$148,942$40,234$108,708
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees-$0-
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Pension Liability$63,909,125
Other Liabilities$1,156,262
Lease Liability$1,103,384
Deferred Inflows of Resources$652,835

Bond Issues

BondIssuerIssuedIssue PricePurpose
AArizona Industrial Development Authority2018-12-01$42,300,000To purchase school buildings

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$42,300,000-$1,930,833$834,468

Bond Financing Compliance

No rebate due
Yes
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Line 15A

The organization does not compensate any ceos, executive directors, or top management officials, nor any officers or key employees, so these do not apply.

Form 990, Part VI, Line 15B

The organization does not compensate any ceos, executive directors, or top management officials, nor any officers or key employees, so these do not apply.

Form 990, Part VI, Line 3 Delegation of management duties

The school entered into an agreement with academica nevada, llc, a professional charter school management company, to provide management and administrative services to the school. Services include, but are not limited to, facility design, staffing recommendations, human resource coordination, regulatory compliance, legal and corporate upkeep, maintenance of books and records, bookkeeping, budgeting and financial reporting. Management fees incurred under this agreement for the year ended june 30, 2024, was $3,756,279.

Form 990, Part VI, Line 11B Review of form 990 by governing body

The form 990 is provided to each board member for review prior to filing.

Form 990, Part VI, Line 12C Conflict of interest policy

All board members are required to sign the conflict of interest policy before joining the board. Additionally, all contracts and purchases are monitored to ensure no conflicts exist. In addressing the conflict of interest, an interested person may make a presentation at the board of directors meeting, but after the presentation, he/she shall leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest. The chairperson of the board shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement.

Form 990, Part VI, Line 19 Required documents available to the public

All governing documents, conflict of interest policy, and financial statements are available to the public upon request and on the organization's website.

Filing and Contact Details

Filer

Filer Name
Pinecrest Academy of Nevada
EIN
45-5065099
Phone
7024316260
Address
6630 Surrey St, Las Vegas, NV 89119

Signing Officer

Name
Coby Sherlock
Title
Chair
Phone
7024316260
Signed
2025-04-22
Discuss with paid preparer
Yes

Organization Details

Formed
2015
Legal Domicile
Nv
Voting Board Members
7
Independent Board Members
7
Employees
861
Volunteers
100

Preparer

Firm
Forvis Mazars LLP
Address
2700 Post Oak Blvd Ste 1500, Houston, TX 77056
Preparer
Amanda Maya
Phone
7134994600
Supplemental Narrative

Financial Statement Notes

Schedule D, Part X, Line 2

Management has evaluated their income tax positions under the guidance included in asc 740. Based on their review, management has not identified any material tax positions to be recorded or disclosed in the financial statements.

Schedule D, Part XI, Line 4(B) Other revenues in form 990 not in audited financial statements

Fundraising expense - -40234

Schedule D, Part XII, Line 2(D) Other expenses in audited financial statements not in form 990

Fundraising expense - 40234

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